Ty
Sources of Revenue:
1876 1895 19065 1915 1924 1928
.000 kr. 1000 kr. 1000 kr. 1000 kr 1000 kr. 1000 kr.
113 176 278 2 302 3101
435 781 1776 5745 7 655
29 69 445 1784 2217
888 905
Taxes . . . ,
Customs . . . . ., . .
Post, telegraphs, telephones
Monopolies . . . . . .
Annual contribution from
Denmark . . . . , 60 60 »
Other sources . . . . 148 270 429 378
Total 311 734 1234 2829 11 148 14 256
Expenditure:
Administration and Althingi
Public health . . . . .
Post, telegraphs, telephones
Other communications , .
Church and education ., .
Science, literature, and art
Industrial affairs . . , .
Social affairs . . . . .
Pensions and allowances .
Interest on, and repayment
of, National debt . .
Miscellaneous .
“27
67
280
aE
23
49
]N
i
nr
5Y;
02
3
a
1222
662
2 297
858
I 370
243
667
492
147%
1 805
968
1967
1794
1635
205
1475
1087
185
yr
4
“ag
24
164
i7
42
n
ie
21
23 2207 1436
510 342 620
Total 202 543 1110 2704 9503 13 177
Surplus 109 191 124 125 1 645 1079
After Iceland had obtained financial independence, the budget was
for a long number of years cautiously prepared, always leaving a little
surplus, which gradually accumulated into a handsome Reserve Fund;
and as the government never engaged in any public undertakings of
an expensive nature, State loans were unknown in Iceland up to 1908.
But during the latler part of this period the State has engaged in
various important undertakings, and revenue and expenditure have conse-
quently increased by leaps and bounds. In 1928 the revenue mounted
up to some 14 million krénur, whereas in 1876 it did not much ex-
ceed 300 thousand, almost one-third of which was contributed by the
Danish treasury. — The price-level has, indeed, risen considerably
during this period, and more especially during the Great War and the
years next following, though not nearly to the same extent as both
revenue and expenditure, which from 1876 to 1928 have increased
46-fold and almost 65-fold respectively, while the price-level has in-
creased but three- or four-fold at most,
